CNB Financial (CCNE) Downgraded by ValuEngine

ValuEngine downgraded shares of CNB Financial (NASDAQ:CCNE) from a hold rating to a sell rating in a research report sent to investors on Thursday, March 21st, ValuEngine reports.

Several other brokerages have also issued reports on CCNE. BidaskClub lowered CNB Financial from a sell rating to a strong sell rating in a research report on Tuesday, December 11th. Zacks Investment Research lowered CNB Financial from a buy rating to a hold rating in a research report on Monday, December 24th.

Shares of CNB Financial stock traded down $0.24 during trading hours on Thursday, hitting $26.88. 5,430 shares of the company’s stock traded hands, compared to its average volume of 21,314. CNB Financial has a 12-month low of $21.43 and a 12-month high of $32.86. The firm has a market cap of $407.35 million, a PE ratio of 12.16 and a beta of 0.79. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.96 and a quick ratio of 0.96.

CNB Financial (NASDAQ:CCNE) last announced its earnings results on Monday, January 28th. The bank reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.01. CNB Financial had a return on equity of 13.33% and a net margin of 22.10%. The firm had revenue of $32.55 million during the quarter, compared to analyst estimates of $33.50 million. As a group, equities analysts anticipate that CNB Financial will post 2.53 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of CCNE. Citigroup Inc. grew its stake in shares of CNB Financial by 13.8% during the 4th quarter. Citigroup Inc. now owns 4,425 shares of the bank’s stock worth $102,000 after acquiring an additional 537 shares during the period. Metropolitan Life Insurance Co. NY grew its stake in shares of CNB Financial by 428.1% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,843 shares of the bank’s stock worth $111,000 after acquiring an additional 3,926 shares during the period. Citadel Advisors LLC bought a new position in shares of CNB Financial during the 3rd quarter worth $230,000. Bank of America Corp DE grew its stake in shares of CNB Financial by 50.6% during the 4th quarter. Bank of America Corp DE now owns 11,046 shares of the bank’s stock worth $254,000 after acquiring an additional 3,710 shares during the period. Finally, MetLife Investment Advisors LLC grew its stake in shares of CNB Financial by 57.9% during the 3rd quarter. MetLife Investment Advisors LLC now owns 10,708 shares of the bank’s stock worth $309,000 after acquiring an additional 3,926 shares during the period. Institutional investors own 43.73% of the company’s stock.

CNB Financial Company Profile

CNB Financial Corporation operates as the bank holding company for CNB Bank that provides a range of banking products and services for individual, business, governmental, and institutional customers. The company accepts checking, savings, and time deposit accounts; and offers real estate, commercial, industrial, residential, and consumer loans, as well as various other specialized financial services.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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